Interview:Javier Díaz Fajardo What is being done to support the growth of micro-, small and medium-sized enterprises? JAVIER DÍAZ FAJARDO: It is important to distinguish between each segment, as businesses face different challenges depending on their size. For example, our strategy for micro-enterprises involves partnerships with more than 86 micro-finance institutions, many of which are…
Interview:Juan Pablo Córdoba How would you assess the development of Colombia’s capital markets in recent years? JUAN PABLO CÓRDOBA: The equities market has not fared well in recent years. However, there has been growth across other segments, including bonds and derivatives. The market has faced headwinds from a number of factors in the last few years, including an overly complex fiscal…
The banking sector has already begun to show signs of improvement in line with macro economic indicators. Measures taken by the national government and the Central Bank of Colombia appear to have enabled the sector to weather the storm, and improving economic conditions should pave the way for a positive performance from the financial sector. Despite the slow evolution of equities trading, Colombia’s…
In English El uso de servicios de banca digital ha crecido en Colombia, tanto en número como en el valor de las transacciones, gracias a una serie de inversiones estratégicas en nuevas tecnologías y métodos de pago innovadores. El número de transacciones monetarias realizadas a través de la banca digital fue igual a 239,9 millones en el primer semestre del año, un 13,6% más que en el…
In English A lo largo del 2018, el sector de los seguros en Colombia ha continuado creciendo y aumentando su actividad, a la vez que varias empresas internacionales han entrado en el mercado. Según los datos de la Federación de Aseguradores Colombianos, durante los primeros cinco meses del año, la prima de seguro supuso un total de 10,8 billones de pesos colombianos (3.800 millones de dólares),…
In English Las start-ups o empresas emergentes especializadas en tecnología digital están fortaleciendo su presencia en el sector financiero colombiano, una tendencia que podría ayudar al crecimiento del PIB en casi un punto porcentual en los próximos años. La innovación crea historias de éxito A principios de septiembre, tres firmas colombianas (la pasarela de pagos ePayco, la compañía…
As in many emerging markets, deepening the banking system and boosting financial inclusion have presented challenges for the Colombian banking sector. Rapid improvements in – and the dissemination of – internet and mobile phone technology in recent years have led to increased take-up of mobile banking services. Policymakers see this channel as an important mechanism to increase the share…
Colombia’s corporate bond segment is an important component of the country’s capital market, despite its relatively small size and liquidity. The total amount outstanding at the end of 2016 was COP48.1tn ($14.4bn), or an estimated 5.5% of GDP. All corporate bond trading is registered on the Colombian Stock Exchange (Bolsa de Valores de Colombia, BVC). The average monthly traded volume…
Colombia has a floating exchange regime, which allows the currency to work as a shock absorber under local and global economic events. Transactions in the foreign exchange market are done through the Exchange Market Intermediaries (Intermediarios del Mercado Cambiario, IMC) and are registered in the SET-FX electronic trading platform. The Colombian peso spot can be traded same day on weekdays…
The Colombian government debt segment is the largest in the country in terms of traded volume, and one of the largest and most liquid of its kind in Latin America – with a total amount outstanding of COP230trn ($69bn), or 26.3% of GDP, and an average monthly traded volume of COP100trn ($30bn) in 2016. Colombian government bonds, widely known as TES, are issued by the Ministry of Finance to…
